Fiera Capital Corp Sells 81,332 Shares of Visa Inc. (NYSE:V)

Key Points

• Fiera Capital Corp reduced its stake in Visa Inc. by 13.3%, selling 81,332 shares in the first quarter, leaving it with holdings valued at $185.6 million.
• Several hedge funds, including Geode Capital Management and Capital International Investors, increased their positions in Visa, with some investors owning over 40 million shares.
• Visa reported $2.76 earnings per share in its latest quarterly earnings, surpassing estimates, and declared a quarterly dividend of $0.59 per share.

Fiera Capital Corp trimmed its position in Visa Inc. (NYSE:V - Free Report) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,667 shares of the credit-card processor's stock after selling 81,332 shares during the quarter. Fiera Capital Corp's holdings in Visa were worth $185,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SLT Holdings LLC grew its holdings in shares of Visa by 15.0% during the 1st quarter. SLT Holdings LLC now owns 765 shares of the credit-card processor's stock worth $268,000 after purchasing an additional 100 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Visa by 2.2% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 11,295 shares of the credit-card processor's stock worth $3,958,000 after purchasing an additional 246 shares in the last quarter. Fielder Capital Group LLC grew its holdings in shares of Visa by 3.7% during the 1st quarter. Fielder Capital Group LLC now owns 3,432 shares of the credit-card processor's stock worth $1,203,000 after purchasing an additional 121 shares in the last quarter. Kinsale Capital Group Inc. grew its holdings in shares of Visa by 13.4% during the 1st quarter. Kinsale Capital Group Inc. now owns 34,117 shares of the credit-card processor's stock worth $11,957,000 after purchasing an additional 4,032 shares in the last quarter. Finally, New Republic Capital LLC grew its holdings in shares of Visa by 2.0% during the 1st quarter. New Republic Capital LLC now owns 3,168 shares of the credit-card processor's stock worth $1,110,000 after purchasing an additional 62 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Finally, The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Visa Trading Down 1.7%

V traded down $5.94 on Friday, hitting $339.53. 5,130,352 shares of the company were exchanged, compared to its average volume of 6,606,850. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a fifty day simple moving average of $355.36 and a two-hundred day simple moving average of $346.13. The stock has a market capitalization of $626.49 billion, a PE ratio of 33.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the business posted $2.42 EPS. The business's revenue was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 over the last three months. Corporate insiders own 0.13% of the company's stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.